AbbVie Inc. (NYSE:ABBV) Shares Acquired by Trust Co of Kansas

Trust Co of Kansas boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,411 shares of the company’s stock after purchasing an additional 300 shares during the quarter. AbbVie makes up 0.3% of Trust Co of Kansas’ portfolio, making the stock its 28th biggest holding. Trust Co of Kansas’ holdings in AbbVie were worth $505,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Crestline Management LP boosted its position in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after acquiring an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP increased its position in AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after purchasing an additional 108,993 shares during the last quarter. Quantbot Technologies LP raised its stake in AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after purchasing an additional 276 shares during the period. AXA S.A. boosted its holdings in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after purchasing an additional 125,568 shares during the last quarter. Finally, Weaver Capital Management LLC boosted its holdings in shares of AbbVie by 3.9% in the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company’s stock valued at $1,727,000 after purchasing an additional 310 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research analyst reports. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Evercore ISI raised their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Cantor Fitzgerald started coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Finally, Bank of America boosted their target price on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Stock Up 1.0%

Shares of NYSE ABBV opened at $185.53 on Wednesday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The stock’s 50-day simple moving average is $185.46 and its 200-day simple moving average is $187.82. The firm has a market cap of $327.73 billion, a price-to-earnings ratio of 78.95, a PEG ratio of 1.22 and a beta of 0.50.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.54%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.